Green Bits — Series A

This week it was announced that our portfolio company Green Bits closed their $17mn Series A round, led by Tiger Global. We couldn’t be more excited for Green Bits and the industry as a whole.

Tiger Global is a firm that I’ve known and respected for many years, dating back to my time at Goldman Sachs & Nomura. I’ve watched with great admiration as they’ve built some iconic positions in the US, India, China and elsewhere, such as Facebook, Spotify, Flipkart, Airbnb, and JD.com to name a few.

From the minute I came into the industry, I made a point to share our vision & promise of this space with more mainstream institutional investors. I started conversations with Tiger and other firms over a year ago, so it’s rewarding to see those players start to take an active interest in our space. It’s certainly a validation of a thesis we have held for years, but it is also a watershed moment for our industry, as we bring in the type of investors who have the capacity to support firms through multiple rounds of funding. It’s only a matter of time before we see others follow suit and start playing in our industry.

It’s game time now for Ben Curren & the team at Green Bits. We’ve been huge fans of theirs since we first invested in early 2017. In a very short period of time, they’ve expanded to over 1,000 dispensaries across 12 states and processed over $2bn in transactions. With this capital infusion, Green Bits is well positioned to considerably expand its presence nationwide. If you are a retailer in the cannabis industry and want a POS solution that can scale and keep you compliant — definitely hit up Green Bits.